Here I am again considering running a car through Mecum Indy. I believe I am going to take our 63 Jetfire and let it go. There was one last year that ran through on Friday in the Catalog star entry time slot. I was wanting mine to go in that same time frame but they are telling me I need to take it on Wednesday. I know a 68 original paint low mile 442 sold last year on Wednesday for what I thought was way below value. Then the 63 Jetfire sold on Friday for far more than I thought it was worth. I am not looking to get rich but at the same time I don't understand why last year they put a Jetfire in on Friday but this year they will not. Any thought?

 

I have never sold through Mecum but I thought the pick of auction day was up to the seller if they paid a certain fee. Wednesday quiet day low fee, Friday busier day, higher fee. Main problem with auctions is fees for everything.

 

It depends on condition of car they decide
It is there game
Alain

 

There is a lot to consider: First is your entry free. Usually a Wednesday Star Car entry is $750.00 while a Friday Star / Catalog entry is $1,500.00. Are you willing to pay to play?

The world record setting '63 belonged to a well known collector who had multiple catalog cars at the auction and has a long history (decades) selling and buying at Mecum. That relationship can make the difference.

Usually you are best off with the recommended grouping as anyone looking for a specific car will make arrangements to bid, either in person, on the phone or via internet and buyers looking to purchase within a budget range know when to be up at bat.

A while back I ran a Bentley Turbo R on a Thursday, the car only had one retail bidder but he found me and the car and made certain he was there to win it. At a reserve auction it only takes one guy sometimes, although more is better.

Good Luck!

 

Thanks guys, I just talked to Mike and he makes me feel a little better about Wednesday. He also said as you did Stefano, that his past business with them gets him more of what he wants. I am truly undecided on this. I would love the experience of selling there but not sure it is worth all the work and the fees. I don't like eBay but I almost think it would be easier. I am very realistic on the price so I believe it would sell either place.

 

Have you considered listing it on www.bringtrailer.com?

Seems to be the place for knowledgeable enthusiasts who are willing to pony up for what these cars are realistically worth...

 

I would most certainly set a reserve.

 

https://bringatrailer.com/ is the actual site.

 

Would never have thought of BaT as a place to list a ride. What is basis for statement about "knowledgeable enthusiasts willing to pony up"?

Appreciate any insights able to be passed on regarding this. Is there a way to research prices paid for cars that actually sold?

 

Read this article. Very interesting. It's from 2013, but I presume it is still relevant.


My Mecum Auction experience

http://vb.foureyedpride.com/showthre...ion-experience

 

I have sold two cars through auctions. (not ebay)

Both experiences were less than I expected. I did set a reserve on both times. They will talk you out of the reserve if it is close at the end then promise to reduce their fees. Then after the sale is made tell you "oh do you have that in writting?" and of course it was last minute so no you don't and screw you on the higher fees that they promised would be lower.

I have friends who also have had bad experiences with it.

Just my two cents.

Larry

 

I have heard Mecum is known for trying to make deals when the car is on the auction block. I have not heard of the auction reps not keeping their word though. With the excitement, adrenaline etc of being a seller at auction, I would think the quick fix to keeping everyone honest is video the sale.

Granted a bit different from a reserved auction, I sold at Barrett in the past. While the car I sold was probably too honest for the auction, the process itself was as explained. While on stage, I keep my iPhone pointed at the TV screen so I could re-watch the experience. In the moment there are million things running through your mind that you'll miss. Re-watching the action really proved Barrett kept their word with how long the car will be on the block and how the process will go. The results are of course what ever they are, but what was important to me was that the car got the promised time on the block, talked up as expected and worked fairly.

I'll probably sell another car this year at Mecum Indy. Definitely interested to see the differences in how the auctions work. Also definitely excited to sell with a reserve this time!

Best,
Dave

 

Regarding Mecum most of the conversations are taped and many are also videoed, so if there is an issue with a deal on the block or the way it went down it can be pulled back up for review. They are also making notes at the desk on each and every sale. Not to say that an issue can't arise but there are steps taken to minimize them.

With BJ, the vast majority of cars are no reserve and there is no negotiation In that scenario.